Eurozone Inflation Falls to 1.9% in December: Revised Data

Euro zone inflation eased to 1.9% in December, revised data showed today, after smaller food and drinks price increases. The initial estimate by the EU's statistics agency had shown annual inflation in the single currency area slowing down to 2% in line with the European Central Bank's target. The revision reflects slower December price increases for food, alcohol and tobacco, which rose by 2.5% in December instead of the 2.6% stimated earlier by Eurostat. The revised data will reinforce the ECB's view that inflation is still in check after the bank decided to keep interest rates unchanged again in December. Core inflation - which strips out volatile energy and food prices and is closely watched by analysts - was confirmed at 2.3% on an annual basis.